CRDB Bank

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CRDB Bank
Type Private: DSE: CRDB
Industry Financial Services
Founded 1996
Headquarters Dar es Salaam, Tanzania
Key people Dr. Charles Kimei
Managing Director
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards, Mortgages
Revenue Increase:Aftertax: US$33.7 million (TZS:53.125 billion) (2011)[1]
Total assets US$1.93+ billion (TZS:3.07 trillion) (2012)
Employees 1,500+ (Q1:2012)
Website Homepage

CRDB Bank Plc is a commercial bank in Tanzania. It is one of the commercial banks licensed by Bank of Tanzania, the national banking regulator.[2]

Overview

The bank is the largest banking institution in Tanzania, by assets, providing commercial banking services to individuals, small-to-medium sized corporate clients and large corporations. As of December 2012, CRDB Bank's total assets were valued in excess of US$1.93 billion (TZS:3.07 trillion).[3] In December 2011, shareholders' equity was valued at approximately US$178 million (TZS:276 billion).[4] The shares of stock of CRDB Bank are listed on the Dar es Salaam Stock Exchange, where they trade under the symbol: CRDB.[5]

History

CRDB Bank was formed when the former Cooperative Rural Development Bank which was wholly government owned was privatized, recapitalized and restructured. DANIDA played a significant role in re-structuring the new institution and is a part owner of the new bank. [6]

Ownership

As of December 2011, the stock of CRDB Bank is owned by the following institutions and individuals:[7]

CRDB Bank Stock Ownership
Rank Name of OwnerPercentage Ownership
1Investors Owning Less Than 1% Each50.7
2Danish International Development Agency21.5
3Investors Owning Between 1.0% and 2.0%10.2
4Tanzanian Parastatal Pension Fund10.0
5Tanzania Public Service Pension Fund3.3
6Blakeney General Partners III2.3
7Tanzania Local Governmeent Pension Fund2.0
8 TOTAL100.0

Branch Network

As of February 2009, CRDB Bank has a network of fifty-four branches in all regions of Tanzania.

Regional expansion

In early 2009, the bank announced plans to enter neighboring countries by establishing subsidiaries in Kenya, Uganda, Rwanda and Burundi.[8] In November 2011, Tanzanian press reports indicated that CRDB Bank planned to cross-list on the Nairobi Stock Exchange (NSE) and on the Uganda Securities Exchange (USE). The same reports indicated that the bank's first foreign subsidiary will be established in Burundi in 2012.[9][10]

External links

See also

References

  1. ↑ December 2011 Financial Highlights
  2. ↑ List of Registered Commercial Banks In Tanzania
  3. ↑ Total Assets In December 2012
  4. ↑ Shareholders' Funds In December 2011
  5. ↑ Company Profile At Google Finance
  6. ↑ CRDB Bank Restructuring & Ownership
  7. ↑ Shareholding In CRDB Bank In 2011
  8. ↑ CRDB Bank Plans Expansion
  9. ↑ CRDB Bank To Cross-List And Enter Burundi In 2012
  10. ↑ CRDB Burundi Opens On 1 July 2012
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